Amazon'S Defeated German Chain Shoe Maker Reno Now Needs To Find Buyers.

September 9th, according to Reuters, the German chain

Reno CEO and co owner Matthias Haendle revealed that it is looking for buyers for the company.

HR Group, the parent company of Reno, is the second largest shoe manufacturer in Germany after Deichmann, with an annual sales volume of 600 million euros (672 million US dollars) and 4500 employees.

"Investors are the most reasonable buyers, but I think investors and retailers are also good models."

Haendle added that because of Amazon and Zalando, etc.

In the fierce competition, the group needs to introduce large amounts of capital.

According to industry sources, HR group includes wholesalers Hamm and retailers Reno two parts, the former is running well, and the latter is in a difficult position.

"I do not think that after the separation of the two parts of wholesale and retail sales, there will be a big increase in their sales volume.

They have to be combined to be competitive. "

Haendle said.

It is understood that Hamm was originally a leather trading company, founded in 1888, while Reno is a mail order enterprise established in 1977.

In 2005, the two companies merged into HR group.

Although it has a low reputation in China, Reno has 700 stores in Germany.

CRISSCROSS, sports TECONE and other famous brands are the sponsors of the Bremen team of the Bundesliga.

Its competitors include Leiser and Goertz.

Former Metro manager Siegfried Kaske owns 50% of its shares and the rest is owned by the Hamm family and other investors.

Haendle revealed that 30 companies have expressed interest, and the HR group has 90 targets, and hopes to complete the acquisition by the end of this year.